US DFC COO to visit India to boost global health investments

David Marchick, Chief Operating Officer (COO) of the US International Development Finance Corporation (DFC), will travel to India to advance its investments helping boost global health and expand Covid-19 vaccine production capacity throughout the developing world.

Marchick, along with a delegation, will arrive in India on October 24.

The delegation will visit the office of Hyderabad-based vaccine manufacturer ‘Biological E’ and sign a Memorandum of Understanding (MoU) with the pharma major to open a new facility with substantial capacity for vaccine manufacturing.

The proposed MoU is in support of the historic commitment set out by US President Joe Biden and the three leaders of the Quad countries, namely Australia, India and Japan.

The DFC’s support is projected to facilitate capacity expansion to produce nearly two billion Covid-19 vaccine doses across the globe by end of 2022 with more projects in the pipeline.

The agency is also working on expanding access to critical therapeutics and introducing medical equipment designed for low-resource environments under DFC’s global health and prosperity initiative.